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Toronto hotel dumps Trump’s name

JCF Capital ULC, the new owners of Trump International Hotel and Tower, reached a buyout deal with Trump Hotels last month. As part of the deal, the hotel will be renamed the St. Regis Toronto after significant renovations are completed, operating as the Adelaide Hotel Toronto in the meantime.

The joint investment group bought the property that is comprised of 211 hotel rooms and 74 private residences in March for $298 million.

The building has been the target of lawsuits from investors who allege that they were led to believe the residential units would generate higher returns, but instead they lost money.

It has also been a site for protests. One denouncing Trump’s policies and another that occurred after a recording surfaced of Trump, then the Republican candidate for president, using crude language and discussing his habits with women.

Councillor Josh Matlow had also proposed a name change in 2015. He said Trump is a “fascist” and his name has no place in a “diverse and respectful” Toronto.

The condo’s developer, Talon International, is facing a new class action lawsuit, which is seeking the return of deposits paid by people who did not close their transactions to become owners.

With files from Ainslie Cruikshank, Alex Ballingall and The Canadian Press

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